Morning Report


The pair settled around the 50 EMA, where intraday trading is clearly positive, while stochastic is approaching overbought area, and this is may result in a downside reversal to retest the breached pivotal resistance at 0.8725 before resuming the intraday upside move for today. Stability above the aforementioned level is necessary to achieve the awaited targets at 0.8845 and 0.8925 without any delay.

The expected trading range for the day is among the key support at 0.8645 and the key resistance at 0.8925.

The short term trend is to the upside so far as 0.8165 remains intact targeting 1.0370.

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RecommendationBased on the charts and explanations above we recommend buying the pair around 0.8725 targeting 0.8845 and 0.8925 , stop loss below 0.8645 may be appropriate.